Why John McCain?

As John McCain puts his country ahead of his campaign once again, detractors are arguing that this is just the latests stunt by John McCain win attention for himself.  Unfortunately those people are missing the point of what McCain is doing. 

In an op-ed piece in The Washington Post today, Harold Meyerson wrote cynically of McCain’s campaign suspension and request for Friday’s debate to be postponed.  In a piece called McCain’s Ploy, Meyerson argues that McCain is simply making this crisis about himself and the “indispensability of John McCain, leader of leaders.  He even goes on to argue that McCain wants the debate to be postponed so that the country can settle down and refocus on the subject of Friday’s debate, foreign policy-an area of absolute advantage for Mccain. 

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/24/AR2008092403918.html?nav%3Dhcmodule&sub=new

What Meyerson misses in his piece however is that what McCain is doing by going back to the Senate is his job.  John McCain is a Senator until November 4 and thus his responsibilities include writing, voting and passing legislation for America.  Sen Obama has refused to go back to Washington, to his Senate seat, to hammer out legislation saying that Presidents must handle more than one crisis at a time.  Unfortunately for Senator Obama, he is not President and thus it is not his responsibility as yet to deal with the war and the economy at the same time.  Sen Obama’s primary responsibility as of September 25, 2008 is in the Senate and thus it falls to him to help write, vote and pass (or kill) legislation, especially legislation that affects the current economic situation.

While cynics argue over McCain’s motives,  I can’t help but remind anyone who cares to visit this blog about McCain’s past leadership.  Leadership that if followed may have averted or at least reduced this crisis we now face. Leadership that shows his current actions rise above the politics and polls.   On May 25,2006 Sen McCain stood before the Committe on Banking, Housing and Urban Affairs and warned them about Fannie and Freddie.  In his statement he said:

“The Office of Federal Housing Enterprise Oversight’s report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Mae’s former chief executive officer, OFHEO’s report shows that over half of Mr. Raines’ compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac.”

In the same statement Sen McCain proposed S.190, a bill that would have set up regulatory reforms for agencies like Fannie and Freddie.  He also warned that the economy would be in jeopardy if something was not done. 

“I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.”

(By the way, who was on the Committee on Banking, Housing and Urban Development?  Senator Chris Dodd (the same who asked Paulson how we got into this mess during yesterday’s testimony) and Sen Evan Bayh (yep VP contender for Obama 08))

http://www.govtrack.us/congress/bill.xpd?bill=s109-190 (sponsors and cosponsors of reform legislation)

http://www.govtrack.us/congress/record.xpd?id=109-s20060525-16&bill=s109-190 (full remarks by Sen McCain)

Once again I am reminded why I am voting for John McCain.  While Sen Obama is holed up in a hotel room studying for the debates,  issuing statements about bipartisanship, and Monday morning quarterbacking the situation, John McCain is at work coming up with solutions in a bipartisan manner.  It is this kind of leadership that drew me to Sen McCain 8 years ago and is the basis for my support now.

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